Brokerages Set Tidewater Inc. (NYSE:TDW) PT at $102.25

Tidewater Inc. (NYSE:TDW) has been assigned an average rating of “Buy” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $102.25.

A number of research analysts recently weighed in on the company. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $131.00 to $102.00 in a research report on Monday, November 11th.

Tidewater Stock Up 0.5 %

Tidewater stock opened at $50.97 on Friday. Tidewater has a 1-year low of $50.33 and a 1-year high of $111.42. The firm’s fifty day simple moving average is $65.61 and its 200-day simple moving average is $85.14. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $2.67 billion, a P/E ratio of 14.99 and a beta of 1.14.

Tidewater announced that its Board of Directors has approved a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $13.90 million in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 0.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Tidewater

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sage Mountain Advisors LLC boosted its stake in shares of Tidewater by 4.8% in the 2nd quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock valued at $251,000 after purchasing an additional 120 shares during the last quarter. GAMMA Investing LLC grew its position in Tidewater by 135.4% in the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 153 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Tidewater by 0.7% in the 2nd quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock valued at $2,525,000 after acquiring an additional 174 shares in the last quarter. Xponance Inc. grew its stake in Tidewater by 9.9% in the second quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock valued at $294,000 after purchasing an additional 279 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Tidewater in the second quarter valued at $27,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Company Profile

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.